Pool Corporation Slashes Outlook as Economic Conditions Hurt Sales

Pool Corporation (POOL) shares sank in intraday trading Tuesday, a day after the distributor of pool products slashed its guidance as economic conditions have led to a pullback in consumer discretionary spending and cut into demand. Shares of Pool Corporation sank about 8% as of 11:10 a.m. ET Tuesday to $309.47, their lowest level since October. Shares of rival Leslie's (LESL) were down more than 4%. Pool Corporation said it now believes new pool construction activity could drop 15% to 20% from 2023. It exp ...